As the need to provide superior healthcare owing to the advancements in healthcare is increasing, the genetic testing has become a highly attractive segment in molecular diagnostics market. The slightest of the modifications with the inherited disease condition like chromosomes, genes or proteins can be identified through genetic testing.

Genetic testing which is an analysis of genes, chromosomes, or proteins helps predicting the risk of diseases, its diagnosis, likely course of the disease and also identifying carriers (individuals not having the disease but have a copy of the disease gene) of disease. Genetic testing has also helped in easily diagnosing the diseases like sickle cell anaemia, haemophilia, and cystic fibrosis, and helping patients living a normal life

The main reasons for the growth in the genetic testing market is due to growing awareness among the individuals regarding the potential benefits in genetic testing. In addition, advancements and huge investments in the genetic testing space, growing aging population and a rise in the number of chronic diseases, and increasing cancer cases are the other factors aiding the growth in the genetic testing market.

However, there are few factors affecting the growth of genetic testing market like, the authenticity of genetic reports is being questioned due to lack of credible standard procedure. And also, many individuals are concerned about the high cost associated with testing.

Asia-PacificGenetic TestingMarketForecast Report (2018-2023)

Asia-Pacific Genetic testing Market is estimated to be $9.85 million in 2018 and is forecasted to reach $14.24 Million by 2023 growing at a CAGR of 7.65%.â€‹â€‹â€‹â€‹â€‹â€‹â€‹

Asia-Pacific Genetic TestingMarket Segmentation

The Asia-Pacific genetic testing market is categorized based on application into Cancer Testing, Pharmacogenomics testing, Prenatal testing and Predisposition testing. Based on type of tests, the market is segmented into Carrier Testing, Diagnostic Testing, Prenatal Testing and Neonatal Testing. Cancer genetic testing is estimated to witness high growth, and is most likely to dominate the genetic testing market over the coming years. The market for screening the new-borns, diagnosing rare and fatal disorders, and estimating the probability of occurrence of diseases is likely to expand. Particularly, genetic tests to screen the new-borns are expected to expand immensely in the future.

Furthermore, on the basis of geography, the Asia-Pacific Market is analysed under various regions namely, India, China, Japan, and South Korea.

The growing frequency of genetic diseases unravels new opportunities for genetic testing and its related applications. It is anticipated that the transformation of genetic testing from a service-driven market to a product-driven market will provide a push to the diagnostic companies for the expansion of their operations.

Major Key Players:

Abbott Laboratories,

Roche Molecular Diagnostics Inc.,

Abbott Molecular Inc.,

AutoGenomics Inc.,

Celera Group,

ELITech Group,

BioRad Laboratories,

PerkinElmer Inc.,

Roche Diagnostics Corp.,

Quest Diagnostics Inc.,

Transgenomic Inc.,

Applied Biosystems Inc.,

Reasons to Purchase Asia-Pacific Genetic TestingMarket Report

Current and future Asia-PacificGenetic Testing Market outlook in the developed and emerging markets

Analysis of various perspectives of the market with the help of Porter’s five forces analysis

Identifying the segment that is expected to dominate the market

Regions that are expected to witness the fastest growth during the forecast period

Identify the latest developments, market shares, and strategies employed by the major market players

Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

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